Bitcoin nearing $800/BTC(bitcoincharts.com)
bitcoincharts.com
Bitcoin nearing $800/BTC
http://bitcoincharts.com/charts/mtgoxUSD?#rg60ztgSzm1g10zm2g25zv
8 comments
This is a good time to start the rumor that when Bitcoin reaches $1000 the NSA will explain why they wrote it.
If USD/BTC goes slightly above $1,000, it will be profitable to mine on EC2 GPU instances.
edit: Forgot to mention, only profitable with Spot instances which are significantly cheaper than the on-demand rate.
edit: Forgot to mention, only profitable with Spot instances which are significantly cheaper than the on-demand rate.
Could Amazon disallow that if they wanted?
> Could Amazon disallow that if they wanted?
It would make sense for Amazon to raise the price rather than disallowing it (specifically, because enforcing a prohibition on activity would cost Amazon money, but setting the price to be at least marginally more expensive than Amazon's expected minimal-effort realizable gain from using the GPU instances themselves would make Amazon money.)
It would make sense for Amazon to raise the price rather than disallowing it (specifically, because enforcing a prohibition on activity would cost Amazon money, but setting the price to be at least marginally more expensive than Amazon's expected minimal-effort realizable gain from using the GPU instances themselves would make Amazon money.)
For the time being that is.
BTC just crossed $1032 in China
http://i.imgur.com/etPRM0q.png
http://i.imgur.com/etPRM0q.png
This is both the worst and best thing to happen to Bitcoin.
It's good because more and more people are learning about Bitcoin. It's never going to stand a chance without mindshare (ignoring any other problems it has).
It's bad because when this bubble bursts, the resulting backlash from people "investing" in it (instead of using it as a currency) is going to put people off.
It's good because more and more people are learning about Bitcoin. It's never going to stand a chance without mindshare (ignoring any other problems it has).
It's bad because when this bubble bursts, the resulting backlash from people "investing" in it (instead of using it as a currency) is going to put people off.
That's just on Gox. On BTC China it's touched over $1000 USD in Yuan and on Bitstamp it's only $675. The global average is over $800 already. The USD only average is quite a bit below that.
https://bitcoinaverage.com/#USD
https://bitcoinaverage.com/#USD
funnily enough, the average increases if you ignore gox. presumably because of the volume of BTC China.
Is there a way to arbitrage this difference?
Is it actually possible to sell BTC held in a random wallet and withdraw the proceeds as USD? I'm not familiar with the intricacies of the various exchanges, and am wondering if it is truly a convertible currency. (Assume that selling ~500 BTC would not move the market.)
Yeah, you just register on an exchange, deposit your BTC, trade them into USD and withdraw USD.
I just did this with BTC-E.com today.
I just did this with BTC-E.com today.
Is this site no longer working?
http://realtimebitcoin.info/
What's the best site to bookmark for a simple real time price quote?
What's the best site to bookmark for a simple real time price quote?
Bitcoinity's site is probably one of the better ones.
http://bitcoinity.com/markets
You need to watch the other US exchanges as well, not just MtGox. It's basically impossible to get USD from MtGox right now, making it a very poor benchmark for the actual exchange rate.
http://bitcoinity.com/markets
You need to watch the other US exchanges as well, not just MtGox. It's basically impossible to get USD from MtGox right now, making it a very poor benchmark for the actual exchange rate.
I think an HN person made this one recently http://pricebtc.com/